Flooding victims anywhere in Vermont now have until Nov. 15, 2023, to file various individual and business tax returns and make tax payments, according to a statement from the Internal Revenue Service.
The tax relief is available to individuals and households that reside in or have a business in any of Vermont’s 14 counties. Details are available on the disaster relief page on IRS.gov.
The relief pertains to quarterly income tax payments, which are normally due Sept. 15, and quarterly payroll and excise tax returns, normally due July 31 and Oct. 31.
It also extended the deadline to Nov. 15 for individuals who had a valid extension to file their 2022 tax return, which was due to run out Oct. 16, 2023.
However, individual tax payments related to these 2022 returns are not eligible for this relief, according to the Internal Revenue Service.
The extension also applies to businesses with an original or extended due date, including calendar-year partnerships and S corporations whose 2022 extensions run out Sept. 15 and calendar-year corporations whose 2022 extensions run out Oct. 16.
In addition, penalties on payroll and excise tax deposits due after July 9 and before July 25 will be abated as long as the deposits are made by July 25.
Vermont officials are working to create a plan for state tax relief but have not taken any official actions, Gov. Phil Scott said at a Thursday press conference.
“It’s all in the mix. We don’t know what we’re going to do, but we are certainly aware of the impacts on businesses, and we want to do anything we can to alleviate that,” Scott said.
The state still has time to figure out what its plans are, he said.
